This is a request for Bid to lease purchase finance essential use equipment. The total principal amount of this lease purchase is $464,307.81. Repayment Terms: The Repayment term for the principal amount of $464,307.81 will be for 10 years with equal annual payments commencing July 15, 2025. The Anticipated date for closing on this lease is on or about November 1, 2024. The Board requests an interest rate and an indexed interest rate; given the requested parameters that will apply to the payment stream. The Board requests that there be no charge for disbursements made. Escrow: This transaction is anticipated to fund an interest-bearing escrow account. The escrow account must be with a NJ GUDPA approved financial institution. The Board requests that there be no charge for disbursements made to vendors at delivery and acceptance. Please disclose your cost for escrow on the response form.
